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- Title
New markets and new demands: challenges for central banks in the wholesale market infrastructure.
- Abstract
In this speech, Nigel Jenkinson, Executive Director for financial stability, discusses some of the structural changes in the trading, clearing and settlement infrastructure supporting financial markets. He observes that, while central banks' typical objectives of monetary and financial stability emerged from an early role in settling claims between banks, the financial infrastructure has broadened and deepened over time, stretching beyond the traditional locus of central banks. And it continues to evolve, driven by the forces of ever faster technological and financial innovation, regulatory change and the globalisation of banking. These developments are exposing new sources of risk, posing fresh policy challenges for central banks.
- Subjects
SPEECHES, addresses, etc.; JENKINSON, Nigel; FINANCIAL management; SUPPLY &; demand; CENTRAL banking industry; WHOLESALE trade; FINANCIAL markets
- Publication
Bank of England Quarterly Bulletin, 2007, Vol 47, Issue 4, p607
- ISSN
0005-5166
- Publication type
Article